Smart cards are extensively used in the telecommunication industry. The majorly used smart card in the industry is subscriber identity module (SIM) or universal integrated circuit card (UICC). These smart cards are manufactured mostly from polyvinyl chloride (PVC) and acrylonitrile butadiene styrene (ABS) materials. The UICC is a new generation of SIM technology used for new wireless network standards. The advancement in the smart card technology for usage in telecommunication has surged form past few years, which has resulted in the rising consumption of smart cards in the telecommunication industry. Furthermore, the growing demand for healthcare is also the major factor boosting the market. Healthcare organizations across the region are implementing smart heath cards consisting wide variety of features and applications. The acceptance of smart card technology in the healthcare industry for data security, protecting the patient’s personal health information so that only authorized person such as doctors and other medical staff can access it are among the key factors propelling the demand for smart cards in the healthcare industry. Thus, significant growth in the healthcare industry helps in the rising consumption of smart cards, which, in turn, is anticipated to drive the market during the forecast period.
In SAM, Brazil recorded the highest number of COVID-19 cases, followed by Argentina, Colombia, Peru, and Chile. The governments in SAM have taken an array of actions to protect their citizens and combat the virus spread through lockdowns, trade bans, and travel restrictions. This had an impact on the growth of the smart card materials market. However, the business activities are expected to gradually recover in the coming months as the governments from the region continue to push forward their reopening plan to kickstart the economy.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. Thus, the SAM smart card material market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 106.46 Million |
| Market Size by 2028 | US$ 136.40 Million |
| CAGR (2021 - 2028) | 3.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Material
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Smart Card Material Market is valued at US$ 106.46 Million in 2021, it is projected to reach US$ 136.40 Million by 2028.
As per our report South America Smart Card Material Market, the market size is valued at US$ 106.46 Million in 2021, projecting it to reach US$ 136.40 Million by 2028. This translates to a CAGR of approximately 3.6% during the forecast period.
The South America Smart Card Material Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Smart Card Material Market report:
The South America Smart Card Material Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Smart Card Material Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Smart Card Material Market value chain can benefit from the information contained in a comprehensive market report.
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